In Governor’s LGE model (which operates differently from other models branded LGE), users exchange their ETH for a “Synthetic LP” voucher. ETH from the LGE is paired with pre-allocated MDAO tokens.
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Proof-of-Existence Presale buffer: 24 hours (October 28th, 8pm UTC | 1pm Pacific)
Public LGE launch: [October 29th, 8pm UTC ] 1pm PST [3 day only duration)
In Governor’s LGE model (which operates differently from other models branded LGE), users exchange their ETH for a “Synthetic LP” voucher. ETH from the LGE is paired with pre-allocated MDAO tokens. Over time, Synthetic LP can be returned for the real LP created. When this happens, users redeem their ETH AND MDAO (ETH => Synthetic LP => real LP => ETH + MDAO).
We recommend signing up at least 24 hours before the presale begins in case of any issues.
Exclusive to PoE holders, presale participants will
· Receive a 12% bonus on their contributions.
· GDAO holders during the main sale will also benefit from a 7% bonus.
Distributions of proceeds
· 85% of user ETH is deployed to LP.
· 12.5% is retained by the Muse treasury and
· 2.5% goes back to Governor DAO. Effectively, users get a 170% boost on their contributions (ex: 1 ETH becomes 0.85 ETH + 0.85 ETH worth of MDAO in LP).
ETH = $3,500 / MDAO = $0.003
Ex:
User contributes 1 ETH (1 * 3,500 = $3,500)
0.125 ETH to Muse DAO treasury (1 * 12.5%)
0.85 ETH (1 * 0.85) + 991,666 MDAO (0.85 * $3,500 / $0.003) posted as liquidity
Position value: 1.7 ETH or $5,950 (0.85 * 2 = 1.7 ETH * $3,500)
Bonus calculation:
Presale participant contributes 1 ETH * 1.12 = 1.12 ETH
Main sale GDAO holder contributes 1 ETH * 1.07 = 1.07 ETH
Splits to MDAO, Governor, and liquidity add outlined above are unchanged
Post-LGE
The LGE ends when one or the other happens (whichever is first):
Hard Cap of 235 ETH is achieved
LGE time ends
If the final contributions do not reach 50 ETH, the soft cap is not met and all contributions are returned to the users. Otherwise, 85% of ETH raised and 250,000,000 MDAO is posted as initial liquidity and trading begins.
Securing and withdrawing LP
The swap from Synthetic to real LP is gamified. There is a decaying tax that starts at 90% and decreases 1% each day to 0. In other words, if users elect to swap on day 0, they forfeit 90%. If they wait until day 40, they forfeit 50%. Forfeit LP from the tax goes back to the treasury, where it stays wrapped as liquidity. From 90 days and onwards, LP can be withdrawn without penalty.
The LGE model is more rewarding for contributors, and safer for the protocol. This initial liquidity is important in ensuring a safe launch, and the swap-and-liquify MDAO mechanics plus gamified swap will rebuild liquidity as initial LGE participants may elect to withdraw.
MDAO Launch by the Numbers
Public LGE launch: [October 29th, 8pm UTC ] 1pm PST [3 day only duration)
Launch information will be surfaced in both Governor DAO and Muse DAO community mediums.
Proof-of-Existence Presale buffer: 24 hours (October 28th, 8pm UTC | 1pm Pacific)
Only addresses already authenticated can participate in the Presale. Information will initially be surfaced to authenticated individuals through the Governor DAO “Humans” chat.
Presale cap: 7 ETH per user
LGE hardcap: 228 ETH
LGE softcap: 50 ETH
ETH breakdown
85%: paired to LP with 25% of MDAO total supply (250,000,000)
12.5%: delivered to Muse treasury
2.5%: delivered to Governor treasury
Initial liquidity price assuming sell out: $0.003
Initial Market Cap: $750,000
Effective MDAO per ETH: 1,166,667 MDAO
NOTE: these numbers exclude bonuses awarded to presale participants and GDAO holders.
MDAO stats
Total Supply: 1,000,000,000
30% Vaults (300,000,000)
25% LGE (250,000,000)
20% DAO treasury (200,000,000)
10% Muse founders (100,000,000)
10% Production company (100,000,000)
5% Governor DAO (50,000,000)
Transaction Tax: 1.5%
0.5% sMDAO depositors
0.5% liquidity add
0.5% MDAO treasury
LGE Contribution Panel
LGE Website {Will be live October 28th, 8pm UTC | 1pm Pacific}
Important: there is a 24 hour presale for authenticated users only, to guarantee a sufficiently decentralized token at launch. To participate in this presale, you must authenticate your wallet through Sign up here
0.025 ETH to (1 * 2.5%)
Within the 24 hours following the successful conclusion of LGE, the LP swap and sMDAO contracts go live on the same page as the LGE.
The sMDAO vault is a that operates similarly to . 0.5% of every transaction is taken as fee and delivered to depositors to sMDAO autonomously. Governor DAO is solely responsible for porting the vault contracts and supplying the frontend. Contact Muse DAO for questions on reward generation and sMDAO in general.
LGE Website
Presale buffer is a non-competitive, capped offering for provably unique individuals (PoE VIP’s) . to participate.
Stay tuned for more information on where to participate and join the discussion with the Muse community through their .
Muse Launch Medium
